Bank of Jin Research center: Stimulus policy will have a choice to gradually exit

China Internet News January 21 afternoon the National Bureau of Statistics published data showing that last year, China's GDP growth rate of 8.7%, better than the market expectations, and the economic situation has also led to a good economic stimulus policy to exit speculation, the Bank of Communications Finance Research Center report said that the focus of macro-control will change,　　The stimulus policy will be phased out selectively.　　The report said that as China's economic downturn has been curbed, economic growth has returned to the rising track, the economic endogenous momentum has been enough to maintain sustained economic growth, the further stimulus policy has led to worries about the overheating of the economy, so the stimulus policy may consider a selective phasing out.　　The problem of excessive asset price rising, increasing inflation expectation and accelerating inflow of foreign capital should be the focus of our macro-control departments in the future. In order to withdraw the stimulus policy, the bank believes that the withdrawal of moderately loose monetary policy should precede the active fiscal policy.　　But the withdrawal of moderately loose monetary policy will be a gradual process that will not tighten quickly. How are the regulatory tools selected? The delivery bank believes that open market operations, reserve ratio, including the number of tools will play a major role in the year, the legal reserve ratio may be a small increase.　　The implementation of interest rate policy will be based on the United States monetary policy, domestic prices, economic growth and asset prices, such as the comprehensive consideration of the decision. The bank believes that positive fiscal policy will remain in 2010, but the focus of fiscal spending will be on people's livelihood, consumption and economic restructuring. (Ding from Beijing)